SR 06:116 - Laserfiche WebLink

TABLE E: REGIONAL HOUSING NEEDS DETERMINATION HOUSING TARGETS UnitsBuilt Total Income %of Annual Income RHND (Listed In Units Built* Units %of% Unmet Category: AMI: Range: (Housing Housing (2003-2006) Toward of RHND Balance (4 person hshld.) Units) Element 1996- Met 2003) RHND Above >120% >$100,550 2,636 2,050 664 2,714 103% (0) Moderate Moderate 80-120% $67,050-$100,550 1,239 495 110** 605 49% 634 Low 50-80% $41,900-$67,050 455 247 141 388 85% 67 Very Low <50% <$41,900 729 42 120 162 22% 567 Total Units: 5,059 2,834 1,035 3,869 76% 1,268 * Includes 38 units from SilverStone and Parkview Regents assisted living that are approved but not built. - For RHND purposes, these units, which are primarily rental multi-family, are not re9ulated by the City. Based on the above and a review of current needs, the Council may wish to consider the following general areas as potential uses for the UHF: . Financial assistance to potential new developments that include affordable housing units (particularly very low income rental units e.g., Stoneridge BART, Hacienda, etc.); · Financial support for the development of future City-sponsored affordable housing projects such as the Kottinger Place/Pleasanton Gardens redevelopment project; · Assistance in the form of on-going or one time rental subsidies to housing projects as a means of acquiring additional or more affordable rental units (e.g., Ponderosa / Gardens at Ironwood); . . · Financial assistance for the acquisition of existing projects and/or property to create new affordable rental units; · Regional housing programs and activities including continued financial support to the new Tri-Valley Housing Opportunity Center; . Supplementing housing-related activities that are funded primarily through the Community Development Block Grant (CDBG) program; · Leveraging the City's allocation of federal HOME funds to enable the development of a small affordable housing project in partnership with a non-profit developer; · Leveraging special State financing programs such as the CaIHF A HELP Down Payment Assistance program; · Mobile home park acquisition / rehab as a way to create affordable units; . Review City requirements for condo conversions to retain affordable rental units; · Preservation of existing below-market rental housing projects (subsidies, City purchase, etc.) . Develop educational and resource programs to promote the City's affordable housing opportunities; . Establish a reserve for potential repayment of the $1.5 Million HELP loan provided to the City for the assisted living project. SR:06:116 Page 6